Location: Presque Isle County, MI | Metro: Alpena County, MI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $160,459 | 0.63% | D |
| 3BR | $1,250 | $200,085 | 0.62% | D |
| 4BR | $1,700 | $235,009 | 0.72% | D |
U.S. Census Bureau data (2024)
ZIP code 49707, located in Alpena, Michigan, is characterized by a moderate level of rental activity. With a population of 21,881, 23.0% of residents are renters, indicating that while there is a substantial number of renters, it is not a predominantly renter-heavy area. The median household income stands at $51,396, which provides context for understanding the financial capacity of potential tenants.
The market rent in this area is $662 per month, representing approximately 15.5% of the median household income. This suggests that rent is a significant but manageable portion of income for most households. However, when compared to the Fair Market Rent (FMR) of $970 (for FY 2026 in the metro area), it becomes evident that the actual market rent is below the FMR, potentially indicating that the area has a lower cost of living or less demand for housing.
The demand for Section 8 vouchers in ZIP 49707 is likely to be moderate due to the percentage of renters and the income levels. Landlords can expect a mix of tenants, some of whom will rely on vouchers to cover their rent. Given the discrepancy between the market rent ($662) and the FMR ($970), landlords who accept vouchers might find them particularly useful in covering the rent for units that are priced closer to the FMR. This could help landlords maintain higher rental rates without excluding potential tenants who have limited income.
A landlord in ZIP 49707 should anticipate a tenant pool that includes individuals and families with incomes significantly below the median. These tenants would likely be seeking affordable housing options and may require assistance through programs such as Section 8. It's important for landlords to consider the administrative aspects of accepting vouchers, including the need to comply with HUD regulations and undergo periodic inspections.
In summary, while ZIP 49707 is not dominated by renters, there is a notable presence of potential voucher users. The relatively low market rent compared to the FMR makes it a feasible location for landlords to accept Section 8 vouchers, ensuring that they can attract and retain tenants despite the economic conditions of the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.